ArrowMark Colorado Holdings LLC Sells 25,000 Shares of Universal Insurance Holdings, Inc. (NYSE:UVE)

ArrowMark Colorado Holdings LLC cut its stake in Universal Insurance Holdings, Inc. (NYSE:UVE) by 6.0% in the 3rd quarter, Holdings Channel reports. The fund owned 390,000 shares of the insurance provider’s stock after selling 25,000 shares during the quarter. ArrowMark Colorado Holdings LLC’s holdings in Universal Insurance were worth $8,642,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of UVE. CWA Asset Management Group LLC bought a new stake in Universal Insurance in the third quarter valued at approximately $6,322,000. Bank of Montreal Can boosted its stake in shares of Universal Insurance by 283.0% during the 2nd quarter. Bank of Montreal Can now owns 374,487 shares of the insurance provider’s stock valued at $7,040,000 after purchasing an additional 276,700 shares in the last quarter. American Century Companies Inc. increased its position in shares of Universal Insurance by 44.5% during the second quarter. American Century Companies Inc. now owns 469,803 shares of the insurance provider’s stock valued at $8,814,000 after buying an additional 144,647 shares during the period. Essex Investment Management Co. LLC raised its stake in Universal Insurance by 64.6% in the third quarter. Essex Investment Management Co. LLC now owns 201,639 shares of the insurance provider’s stock worth $4,468,000 after buying an additional 79,138 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Universal Insurance by 22.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 347,395 shares of the insurance provider’s stock worth $7,698,000 after buying an additional 63,582 shares during the period. 66.61% of the stock is currently owned by institutional investors.

Universal Insurance Stock Down 0.8 %

NYSE:UVE opened at $22.45 on Tuesday. Universal Insurance Holdings, Inc. has a 1-year low of $15.63 and a 1-year high of $23.39. The company has a market capitalization of $635.11 million, a PE ratio of 9.13 and a beta of 0.92. The firm’s 50-day moving average price is $20.92 and its 200-day moving average price is $20.12. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.51 and a quick ratio of 0.51.

Universal Insurance (NYSE:UVE) last released its earnings results on Thursday, October 24th. The insurance provider reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.03) by $0.30. The firm had revenue of $387.55 million during the quarter, compared to analyst estimates of $341.98 million. Universal Insurance had a net margin of 4.82% and a return on equity of 15.43%. During the same period last year, the business earned ($0.16) earnings per share. On average, equities analysts predict that Universal Insurance Holdings, Inc. will post 1.66 EPS for the current fiscal year.

Universal Insurance Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, December 6th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 2.32%. The ex-dividend date of this dividend is Friday, December 6th. Universal Insurance’s dividend payout ratio (DPR) is 26.02%.

Insider Activity at Universal Insurance

In other Universal Insurance news, Chairman Sean P. Downes sold 15,064 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $22.46, for a total transaction of $338,337.44. Following the sale, the chairman now directly owns 1,047,198 shares in the company, valued at approximately $23,520,067.08. This trade represents a 1.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last ninety days, insiders have sold 55,064 shares of company stock valued at $1,191,937. 17.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Universal Insurance from a “hold” rating to a “buy” rating in a research note on Sunday, November 10th.

About Universal Insurance

Universal Insurance Holdings, Inc, together with its subsidiaries, operates as an integrated insurance holding company in the United States. It develops, markets, and underwrites insurance products for personal residential insurance, such as homeowners, renters/tenants, condo unit owners, and dwelling/fire; and offers allied lines, coverage for other structures, and personal property, liability, and personal articles coverages.